Budget 2011: The full list of measures and what they’re worth

The budget 2011 has today brought a stream of numbers for tax increases and spending decreases – how do we make sense of it all?

The Guardian provides expert verdicts and to compliment that we provide the figures from the budget in a format you can use.

Let’s start from the top level. Comparing today’s budget with the emergency budget for 2010 we can see that this year there is an overall 2% increase in national spending.

In the next table we compare the national income predicated in the budget today and the 2010 budget and find that in 2011-12 we can expect a 7% increase in national income.

Now, what happens when we look at the budget policy changes in detail? We’ve extracted the key data from the budget 2011 report and the figure that stands out is fuel duty.

What this change in fuel duty means in terms of who befits and who looses is neatly explained by Terry Macalister. The key figures are that the public stands to save about £2bn on the cost of fuel while the petroleum industry stands to loose about £2bn.

Another figure of interest is for the carbon price floor tax: which will tax companies on their C02 emission. Within 5 years this tax will increase national income by £1.4bn. That is quite a sum.

Overall the figures show that we’ll have to wait until 2015 before we see a real return on the policy changes outlined today. The budget policies will lead to a £10m reduction in national wealth this year, a £265m reduction next year, a brief £25m increase for 2013-14 followed by £115m loss the following year. Let’s hope 2015 is worth waiting for.

This is our brief summary of the budget data, let us know what you think.

Data summary

BUDGET 2011: ALL THE MEASURES ANNOUNCED – AND WHAT THEY’RE WORTH TO THE TREASURY

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HM Treasury

Corporation tax: decrease main rate to 26% in 2011-12, 25% in 2012-13, 24% in 2013-14 and 23% from 2014-15

Growth and Enterprise

Tax

-425

-1,075

Corporation tax: interim improvements to Controlled Foreign Company rules

Growth and Enterprise

Tax

-55

-25

Corporation tax: taxation of foreign branches reform

Growth and Enterprise

Tax

-80

Corporation tax: corporate capital gains simplification

Growth and Enterprise

Tax

-55

Corporation tax: full reform to Controlled Foreign Company rules

Growth and Enterprise

Tax

-840

Bank Levy: increase first year effective rate to 0.075% and rate to 0.078% from January 2012

Growth and Enterprise

Tax

630

100

Enterprise Investment Scheme and Venture Capital Trusts: reform

Growth and Enterprise

Tax

-120

RD tax credits: increase SME rate to 200% from 2011-12 and to 225% from 2012-13

Growth and Enterprise

Spend

-20

–

Capital allowances: extension of short life assets limit

Growth and Enterprise

Tax

-10

-170

Capital allowances: extension of business premises renovation allowance

Growth and Enterprise

Tax

-30

Business rates: Enterprise Zones

Growth and Enterprise

Tax

-80

Business rates: one-year extension of relief for small business from October 2011

Growth and Enterprise

Tax

-190

Capital gains tax: increase Entrepreneurs’ relief lifetime limit to £10 million

Growth and Enterprise

Tax

-100

Science facilities: additional investment

Growth and Enterprise

Spend

-100

–

Stamp Duty Land Tax: bulk purchasing

Housing and Employment

Tax

-70

-150

Support for Mortgage Interest: one-year extension from January 2012

Housing and Employment

Spend

-10

–

First Buy: support for first-time buyers

Housing and Employment

Spend

-250

–

Enterprise Allowance: extension

Housing and Employment

Spend

-5

–

Work experience: 80,000 additional placements

Housing and Employment

Spend

-20

–

University Technical Colleges: additional investment

Housing and Employment

Spend

-150

–

Apprenticeships: 50,000 additional places

Housing and Employment

Spend

-100

–

Personal allowance: increase by £630 in 2012-13, with adjustment to basic rate limit and no change to higher rate threshold

Personal tax

Tax

-1,230

Direct taxes: switch the default indexation assumption to CPI from 2012-13

Personal tax

Tax

1,080

Direct taxes: over-index employer NICs threshold, age related allowances and other allowances 2

Personal tax

Tax

NICs: implement Government Actuary’s ‘best estimate’ approach on contracted-out rebates from 2012-13 3

Personal tax

Tax

610

Non-domicile taxation: reform

Personal tax

Tax

Fuel duty: 1ppl reduction from 23 March 2011,
removal of previously announced above-RPI increases
and delay of RPI increases

Motoring tax

Tax

-1,900

-2,100

North Sea: increase in supplementary charge from 20% to 32% and restriction on decommissioning relief from 2011-12

Motoring tax

Tax

1,780

1,870

Fuel duty: rural rebate

Motoring tax

Tax

-5

Vehicle excise duty: freeze rates for Heavy Goods Vehicles in 2011-12

Motoring tax

Tax

-15

-20

Approved Mileage Allowance Payments: increase allowances from 2011-12

Motoring tax

Tax

-35

Carbon price floor: introduce from 2013-14 with £30 per tonne of CO2 target

Environmental tax

Tax

1,410

Climate Change Agreements: reform

Environmental tax

Tax

-50

Climate change levy exemption: supplies of gas in Northern Ireland

Environmental tax

Tax

Company car tax: adjustment to rates for 2013-14

Environmental tax

Tax

135

Air passenger duty: defer RPI increase in 2011-12 to 2012-13

Environmental tax

Tax

-145

Aggregates levy: postpone rate increase until 2012-13

Environmental tax

Tax

-15

-20

VAT: decrease low value consignment relief threshold to £15 from November 2011

Indirect tax

Tax

Tobacco duty: rebalance for cigarettes and increase for hand rolled tobacco from 2011-12

Indirect tax

Tax

Disguised remuneration: avoidance